ATM Cash Withdrawal: India’s first UPI-ATM was launched on Tuesday as White Label ATM (WLA) by Hitachi Payment Services in collaboration with National Payments Corporation of India (NPCI).
The way India is rapidly moving towards Digital India, this will help it more. With its help ‘Seamless Cash Withdrawals’ can be enabled. Now there will be no need to carry ATM card to withdraw money. You will be able to withdraw cash with the help of QR code.
NPCI said that you can withdraw cash using UPI even without a debit card. This will help people a lot. People living in villages will not need to carry ATM card with them.
How does it work?
UPI-ATM service, also known as Interoperable Cordless Cash Withdrawal (ICCW). In this, you can withdraw cash with the help of UPI. This means that there will be no need for a debit card to withdraw money. When a customer chooses the ‘UPI Cash Withral’ option at an ATM, he is asked to enter the number of digits he wants to withdraw.
After this the QR code will appear on the ATM screen. To complete the transaction and withdraw cash from the ATM, the customer simply needs to scan this QR code using any UPI app and authorize the transaction with his UPI PIN on his mobile device.
This is the complete process of withdrawing money
- Click on “UPI Cardless Cash” displayed on the ATM machine.
- Then choose the amount of money you want to withdraw.
- After this you will see a QR code.
- Use your UPI app to scan the QR code.
- Enter your UPI PIN to confirm the transaction.
